The Xfinity Flex is a personal guide, display, remote control and box, can be seen in an undated photo, courtesy of Comcast, released to Reuters on September 18, 2019 at the latest. Thank you Comcast/handout via REUTERS
(Reuters) – Comcast Corp’s (CMCSA.(O) said on Wednesday it would offer internet access to customers as a free streaming-media tv set-top box that will work with the other departments, stepping up the competition with Roku, Inc in the market for a device that arranges multiple passes.
Roku’s (ROKU.(O) stock fell nearly 14%, which was on its way to its worst one-day loss since March, as investors reacted to the competition of the Silicon Valley’s very own streaming products. In ‘ s share price rose sharply, by more than 300% in 2019, and it recently traded at nearly 13 times estimated sales, according to the Refinitiv of the data.
Comcast, saying the internet to customers who had paid $5 a month for Xfinity Flex for now, will get it for free
“We have a hard time justifying the Roku’s valuation, especially with major competitors such as Amazon, Apple, and Google. Now, you can, However,” said Loop Capital analyst Alan Gould, who recommends selling the shares on the Roku.
Comcast’s Xfinity-Flex is part of a broader trend to simplify the experience of watching the show with multiple streaming services. It is a product that offers customers the ability to browse and search for programmes from the likes of Netflix Inc (NFLX.(O), Hulu and Amazon.com Inc. ‘ s (AMZN.(O) Prime Video, as well as free of charge shows and in movies, that Comcast will be using the set-top box.
Apple Inc’s (AAPL.(O) to the Apple TV, the app is trying to provide a one-stop-shop for buying and watching shows. App users will be able to subscribe to channels like HBO and Showtime (but not Netflix) and then watch the shows on any device that is connected to your Apple ID, whether it be an iPhone, iPad, or Apple TV box.
Report by Helen Coster in the New York city and Munsif Vengattil in Bengaluru. Additional reporting by Noel Randewich; Editing by Kenneth Li, Lisa Shumaker and David Gregorio